DekaBank Deutsche Girozentrale Acquires 124,203 Shares of Fluence Energy, Inc. $FLNC

DekaBank Deutsche Girozentrale increased its holdings in shares of Fluence Energy, Inc. (NASDAQ:FLNC) by 32.2% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 509,363 shares of the company’s stock after purchasing an additional 124,203 shares during the quarter. DekaBank Deutsche Girozentrale owned 0.28% of Fluence Energy worth $3,157,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Goldman Sachs Group Inc. increased its position in Fluence Energy by 189.7% during the first quarter. Goldman Sachs Group Inc. now owns 3,171,146 shares of the company’s stock valued at $15,380,000 after acquiring an additional 2,076,668 shares during the last quarter. CenterBook Partners LP purchased a new stake in Fluence Energy during the first quarter valued at $12,458,000. Invesco Ltd. increased its position in Fluence Energy by 152.4% during the first quarter. Invesco Ltd. now owns 925,011 shares of the company’s stock valued at $4,486,000 after acquiring an additional 558,498 shares during the last quarter. AQR Capital Management LLC increased its position in Fluence Energy by 1,441.8% during the first quarter. AQR Capital Management LLC now owns 900,674 shares of the company’s stock valued at $4,368,000 after acquiring an additional 842,257 shares during the last quarter. Finally, Edgestream Partners L.P. purchased a new stake in Fluence Energy in the first quarter worth about $4,180,000. 53.16% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have commented on FLNC shares. Hsbc Global Res cut Fluence Energy from a “hold” rating to a “moderate sell” rating in a research report on Wednesday, August 13th. Seaport Res Ptn cut Fluence Energy from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, July 22nd. Wall Street Zen cut Fluence Energy from a “hold” rating to a “sell” rating in a research report on Saturday. Barclays set a $13.00 price target on Fluence Energy in a research report on Tuesday, October 7th. Finally, Bank of America upped their price target on Fluence Energy from $11.00 to $17.00 and gave the stock a “neutral” rating in a research report on Friday. Four equities research analysts have rated the stock with a Buy rating, sixteen have issued a Hold rating and six have given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Reduce” and a consensus price target of $9.12.

Fluence Energy Stock Performance

NASDAQ FLNC opened at $19.52 on Friday. The firm has a market cap of $3.56 billion, a price-to-earnings ratio of -92.95 and a beta of 2.76. The company has a quick ratio of 1.06, a current ratio of 1.64 and a debt-to-equity ratio of 0.75. The business has a 50-day moving average price of $11.08 and a 200-day moving average price of $7.84. Fluence Energy, Inc. has a twelve month low of $3.46 and a twelve month high of $24.00.

Fluence Energy (NASDAQ:FLNC) last released its quarterly earnings data on Monday, August 11th. The company reported $0.01 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.02) by $0.03. The firm had revenue of $602.53 million during the quarter, compared to analyst estimates of $738.52 million. Fluence Energy had a negative return on equity of 3.42% and a negative net margin of 0.76%.The business’s revenue for the quarter was up 24.7% on a year-over-year basis. Fluence Energy has set its FY 2025 guidance at EPS. As a group, equities research analysts predict that Fluence Energy, Inc. will post 0.08 EPS for the current fiscal year.

About Fluence Energy

Fluence Energy, Inc, through its subsidiaries, offers energy storage products and solution, services, and artificial intelligence enabled software-as-a-service products for renewables and storage applications in the Americas, the Asia Pacific, Europe, the Middle East, and Africa. The company sells energy storage products with integrated hardware, software, and digital intelligence.